Tencent owns WeChat and became the first Asian company to surpass a $500 billion market value.
Tencent crossed that valuation threshold in November 2017, as investor confidence in its games, digital services, advertising, and rapidly expanding mobile ecosystem lifted its share price. Its Hong Kong-listed shares made the company one of the most valuable publicly traded businesses in Asia.
WeChat, known as Weixin in mainland China, combines messaging, social networking, payments, commerce, and other services. Tencent also owns or operates major gaming businesses and has invested in technology companies around the world.
Tencent was founded in Shenzhen in 1998 by Pony Ma, Zhang Zhidong, Xu Cheney, Chen Yidan, and Zeng Liqing. Its market value has moved substantially over time, so historical milestones should not be confused with a permanent ranking among today’s richest companies.